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US corn futures edged lower for a second session on Feb. 2, 2021, retreating from a seven-year high reached the previous day.
Soybeans and wheat also declined, while Argentine grain exports were disrupted by trucker roadblocks around Buenos Aires province ports.
Strong Chinese demand keeps corn near multi-year highs, while Argentine port disruptions could tighten South American export supply and support soybean and meal prices.
financialpost.comReutersFeb 3, 2021After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
